Suspicious Transaction Reporting on United Nations Security Council Resolutions on Proliferation Financing

Tel: 09-46237401 E-mail:fprd@cbn.gov.ng 20th September, 2019 FPR/DIR/CIR/GEN/03/07/037 LETTER TO ALL BANKS AND OTHER FINANCIAL INSTITUTIONS SUSPICIOUS TRANSACTION REPORTING ON UNITED NATIONS SECURITY COUNCIL RESOLUTIONS ON PROLIFERATION FINANCING Further to the provisions of Regulation 11 of the CBN AML/CFT Regulations, 2013 and our previous Circulars on targeted financial sanctions, we write to remind all financial institutions on the need to increase surveillance and report all transactions involving persons and entities designated under the United Nations Security Council Resolution 1718 and all other subsequent resolutions relating to the Democratic People's Republic of Korea (DPRK).

Financial Institutions are advised to continuously screen both customers and transactions against global sanctions lists and stop all transactions; freeze, without delay, all funds, owned or controlled, directly or indirectly, by individuals and entities designated by the UN Sanctions Committees.

All terminated transactions or funds frozen pursuant to the UNSCR must be, immediately, reported to the Nigerian Financial Intelligence Unit (NFIU).

J.M. GANA for: Director, Financial Policy and Regulations Department CENTRAL BANK OF NIGERIA Financial Policy and Regulation Department Central Business District P.M.B. 0187 Garki, Abuia,